The Bank of New York Mellon Corporation $BK Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its position in The Bank of New York Mellon Corporation (NYSE:BK) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,192 shares of the bank’s stock after buying an additional 7,450 shares during the quarter. Advisors Asset Management Inc.’s holdings in Bank of New York Mellon were worth $11,789,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $220,000. Sivia Capital Partners LLC lifted its position in Bank of New York Mellon by 36.6% during the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after buying an additional 909 shares in the last quarter. Ignite Planners LLC purchased a new stake in Bank of New York Mellon during the second quarter worth approximately $240,000. Blair William & Co. IL increased its position in shares of Bank of New York Mellon by 52.4% in the second quarter. Blair William & Co. IL now owns 36,449 shares of the bank’s stock worth $3,321,000 after acquiring an additional 12,537 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Bank of New York Mellon by 9.8% in the 2nd quarter. Blue Trust Inc. now owns 4,848 shares of the bank’s stock valued at $442,000 after acquiring an additional 434 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.9%

BK stock opened at $126.49 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. The firm has a 50 day simple moving average of $118.90 and a 200-day simple moving average of $110.75. The company has a market capitalization of $88.21 billion, a P/E ratio of 17.07, a PEG ratio of 1.19 and a beta of 1.10. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $128.76.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The firm had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. On average, equities research analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Friday, January 23rd were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 annualized dividend and a dividend yield of 1.7%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BK shares. New Street Research set a $143.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, January 14th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, January 27th. Royal Bank Of Canada increased their target price on Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. Finally, TD Cowen upped their price target on Bank of New York Mellon from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $131.92.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.